Economics: The Austrian School vs. The Chicago School

I look introduce these two schools of economic thought and analyse their similarities and differences. Recommended further reading: On differences between the schools: Mark Skousen, Vienna & Chicago, Friends or Foes?: A Tale of Two Schools of Free-Market Economics (Regnery, 2005). Best introduction to Austrian School: Murray Rothbard, Man Economy and State with Power and Market (1962; Ludwig von Mises Institute, 2008). Best introduction to Chicago School: Ross B. Emmett, The Elgar Companion to the Chicago School of Economics (Edward Elgar, 2012). Thomas Sowell, Knowledge and Decisions (1980; Basic Books, 1996). NB. Note to long-time viewers, this has replaced my earlier video from June 2017 (over 20k views), which has now been unlisted. --- My Patreon: